
With the increasing pressure from unions and U.S. manufacturers, Treasury Secretary Henry Paulson has been pushing for what is being called "significant -- and quick -- concessions from the Chinese" on economic issues.
Much of the issue centers around China keeping the yuan artificially low, although the Chinese have allowed it to move since July of 2005, and it has increased by 8 percent since then.
Paulson's remark that "Even the notion of a dialogue may seem too passive for America's action-oriented ethic. It is up to us, over these two days and in the work that follows, to show that words are precursors to action," to me was somewhat ignorant and counterproductice. To tell a people that look at live from a much more long-term perspective that they must change who they are makes no sense whatsoever.
Chinese Vice Premier Wu Yi, said, "Politicizing economic and trade issues is completely unacceptable. We should not easily blame the other side for our own domestic problems."
Some of the other concerns being addressed in the talks, called the Strategic Economic Dialogue, are commercial air routes, U.S. controls over exports of advance technology and copyright piracy.
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» U.S., Chinese Leaders Meeting over Economic Issues from BizzBites.com
With the increasing pressure from unions and U.S. manufacturers, Treasury Secretary Henry Paulson has been pushing for what is being called "significant -- and quick -- concessions from the Chinese" on economic issues. [Read More]
Tracked on: May 22, 2007 8:21 PM | Permalink to Trackback